Micromobility.com, previously Helbiz, ended up being delisted through the Nasdaq on Monday due to the company’s noncompliance utilizing the stock exchange’s detailing principles, in accordance with a filing that is regulatory

Competitor Bird — the only other shared micromobility company to brave the markets that are public has also been delisted through the stock market in September.

The company’s common stock and warrants had been suspended from investing at the beginning of company Wednesday.

Micromobility.com was kicked from the stock exchange for failing woefully to keep a share cost of at the very least $1 as well as for failing woefully to conform to Nasdaq’s minimum stockholders’ equity requirement of continued listing.

The company’s stock has actually struggled to keep in conformity since going community via special-purpose purchase merger in 2021. The gains from which didn’t last long in March, the company issued a reverse stock split to bring the price back into compliance. Micromobility.com also recently said it intended to seek approval for another reverse split at a meeting that is special of stockholders planned for January 2024. That conference happens to be delayed, because has got the proceed to do another reverse split.

Micromobility.com stated with its filing that it’ll affect have its stock that is common and quoted to be traded over-the-counter. The company also chose to move its stock to OTC markets, as well after Bird’s delisting in September. Bird recently granted layoffs and its own earnings that are third-quarter a company that could be close to filing for bankruptcy.

Micromobility.com says its transition to OTC markets will “have no effect on the company’s business or operations.” The startup’s rebrand aimed to encapsulate a push toward retail — Micromobility.com opened its first brick-and-mortar store in SoHo, New York City in September and has an* that is( featuring a little collection of e-scooters, e-bikes, helmets and liquid containers.

The startup’s earnings reveal an organization that introduced $1.5 million in income into the third-quarter at a loss that is net of9.5 million. The balance sheet also shows that Micromobility.com’s liabilities, at $61.7 million, vastly outweigh its assets, at $9.4 million.

The company’s stock closed at $0.44.

Micromobility.com’s monday delisting comes whilst the provided micromobility business locates it self in chaos. Superpedestrian turn off week that is last is exploring the sale of its European business. Tier Mobility in November issued its round that is third of this current year, after offering down Spin to Bird a few months early in the day.(*)